Mecum drove his mother's GTO a bit when he was 16, before eventually owning a '66 GTO convertible of his own. The company hosts various auction events across the United States. About 19 or 20 years ago, Mecum purchased the 1934 Gilmore Special, a racing car built by Myron Stevens for Art Sparks and Paul Weirick. My boss at my first job, when I was 15 years old, would respond to questions this way. The first few years, I was the only one flying but now my sons are. It is a great discussion on human resistance to change and how to overcome it. Mecum is known for his enthusiastic style and catchphrases, such as Bring a trailer! and Fair warning! I got a Citation Ultra in 2011 and moved up to an Excel in 2015. Very little gets by this meticulous crew, and you do not want to play automotive trivia against themunless you know, say, that it was possible to match the engine with the chassis in a 1954 Corvette but not a 1953. 5 How much do Barrett-Jackson Auctioneers make? Analysts include John Kraman, who usually shows up early to help set up the broadcast; racer/writer Stephen Cox; and automotive and drag racing guru Bill Stephens. [Almost all appeared to be over 50.] More than 30 years ago, when Dana Mecum started his eponymous auction company at his dining room table, he might not have pictured the current combination of in-person and virtual bidding, but it has helped them grow tremendously. Patti Mecum is his wifes name. The reliability for this car was very low. Dana "Dealmaker" Mecum and his beautiful wife Patti celebrating 25 years in Indianapolis, Indiana! Mecumwho runs the Wisconsin-based, 300-plus-employee business with his wife, Patti, four sons, and CEO Dave Magersgrew up in the car business. Submit a correction suggestion and help us fix it! And thanks to David Morton, manager of communications and event marketing for Mecum, nothing and no one was off limits. And the worst thing is to be ready to close a deal with a customer and have to say, Sorry, I have to leave to catch my plane.. Mecum, a businessman, was recently featured on the internet. As part of Mecums philosophy to keep everything it can inhouse, the company has a fleet of about a dozen 18-wheelers that both transport vehicles to the auction and, upon request, deliver them to the new owners. Dana was born in 1954 in Monmouth, Illinois, the son of renowned fleet dealer Edward Mecum. We did 30 hours of live programming, Kraman said of last years coverage, as well as highlight showsMecums Top 10 Mustangs and Mecums Top 10 Camaros-that sort of thing. And grew. I still have it. Mecum is offering up eight of his Pontiac GTOs ranging from the 1964 through 1970 model years, including some rare and highly coveted examples. We back up from the tarmac and sit there for two hours. The car has belonged to the Kiernan family since the early 1970s when the car was purchased by Robert Kiernan of Madison, New Jersey for just $6,000. The key to funding for entrepreneurs is to look for strategic capital, not just capital. He takes a floor-level seat on the auction block and the customers begin approaching. The firm, based in Walworth, Wisconsin, is the global leader in the number of collector vehicles presented at auctions, the number of collector cars sold at auctions, and the host of the worlds largest collector car auction, held every year in Florida. Ford Scorpio mk2. Most Reliable Cars that Wont Break the Bank Toyota. I was on a customers Falcon 7X a few weeks ago, and that was really nice. Weve got nine grandkids, and we like to go places. Which, incidentally, he did. Mecum was the son of Edward Mecum, a well-known fleet dealer. Alternatively, you can have a $30,000 car with a $20,000 bid and if every seat is full, the guy will sell. Frank says they bolstered absentee sales through the new internet system, adding more tech staff and beefing up online descriptions. The NBC Sports deal, which was recently re-upped through 2024, includes airings on the Sky network in the United Kingdom and Europe, as well as on NBC here. You Tell Us: How Do You Value the Bullitt Mustang, Something Thats One of One? I used to fill the seats when we would go to an auction for economy but I got past that. Mecums first auction, in 1988, ended in disaster when 90 mph winds hit, followed by a storm of litigation from unhappy customers. Hey, Dana, I brought my nephew, says one. | 7 Did Steve McQueen drive the car in bullet? Thats a big concern. He has been married for many years, and his wife has always been very supportive. Today 80 percent are worth $750,000 to $1 million and the rest are worth $3 million to $10 million. In the last 10-15 years, he started using a tablet on the auction block that keeps him up to the second on the auction price. She was united in marriage to the late Edward L. Mecum Sr. on December 26, 1951, and the two were married for 66 yea read more Print I think every employee felt they had input into the process and were invested in our success. The dealers that survived that period turned into sellers at our auctions. After the death obituary of Danas friend Bill Grams, some internet sites also stated the death of the auction enterprise owner Dana Mecum. The company, based in Walworth, Wisconsin, is the world leader in the number of collector automobiles presented at auctions, the number of collector cars sold at auctions, and the host of the worlds largest collector car auction, held every year in Florida. Before the pandemic, absentee bidding was less than 10%, and its currently averaging 20-30%. Andrey knows everything from warm-up to hard workout. Sean Kiernan, who sold the iconic Bullitt Mustang last week for 2.6 million has confirmed that the cars new owner will not restore it. So my two-and-a-half-hour flight winds up taking nine hours when you count the drive to the airport. Kathlyn Wilkins: Who Is She? Entrepreneurs do what they do because they have a passion for it. For Mecum, those investments made many years ago have driven the explosion of the company's success, particularly in recent years. Following the death obituary of Danas friend Bill Grams, several websites reported the death of Mecum, the auction house owner. well-known collections. [CEO] Dave Magers spent 37 years at Country Financial, and he has the financial background we needed. His company auctions more collectible autos than any other in the world at 14 annual events across the U.S., including a monster 3,000-car, 10-day, $100 million extravaganza each January in Kissimmee, Florida. How Our Fees Work. He is wearing a yellow company shirt and matching baseball cap, but otherwise looks much like the 10,000 customers who will attend this weekend event. Dana is the president and creator of Mecum Auctions, which he started with the support of his wife Patti and a few close friends from his kitchen table in 1988. Subaru. The Mecum Auctions show is revving up. Whats the rarest car youve auctioned? Rick Treworgy's Muscle Car City is one of the biggest collections of high-performance American cars in the world. Business Jet Traveler is a publication of AIN Media Group, Inc., 214 Franklin Avenue, Midland Park, NJ 07432. At that time, and for an extended period of time thereafter, we were not only the only collector car auction company holding live events, but the only company holding live events, period. The entire family is heavily involved in the business. Fortunately, we started on TV at the same time so overnight we rolled from 80 to 90 percent of customers being dealers to 80 to 90 percent being the end consumer. I remember reading the book Who Moved My Cheese? Nissan Juke. He is passionate about collector cars. You cannot own everything, but you can keep track of the cars you love.". Mecum Auctions is the world's largest collector car auction company, bringing approximately 22,000 lots to auction each year, spread out over 18 annual events across the country. Long-term we think it will be OK, but the era I come from, everyone had gas and oil in their veins. We now have limitless entertainment [revenue potential] if we can learn to harness it. Mecum Auctions, which he started from his dining room table, is a vehicle auction firm he created. The sprawling Osceola Heritage Park, just south of Orlando, hosts dozens of events, from the Jehovahs Witnesses convention to the Florida Stamp Show to the North American Grappling Associationchampionships. We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023. Muhammad unfortunately did not have access to bulldozers, but Larsondoes. Whats the most expensive car youve sold? Dana Mecum, founder/president, Mecum Auctions (Photo: Jason Brant), The era I come from, everyone had gas and oil in their veins. If were selling a small collection with reserves, we try and arrange it so that the first few cars sell for sure. We started our own transport and financing businesses. More >. They help oversee the 200-odd employees who make these events happen. What are your favorite cars in your personal collection? According to ZoomInfo records, Dana Mecums professional experience began in 2020. Position: Founder/president, Mecum Auctions, Transportation: 1999 Cessna Citation Excel. Features Its one of the best decisions Ive ever made. Dana, a businessman, is married. WebYou dont have to own them to enjoy them, Mecum answers. The 5.7-liter Chevy crate motor was worth that. Send us a note: tips@thedrive.com. It had been rumored it was here or there or crashed.. 1970 Dodge Challenger R/T Convertible Pilot Car. Then I had a flight from OHare. The deal calls for coverage of at least 12 Mecum auctions, with Kissimmee being front and center. They say I have to go back to ticketing and come through security again. Inside and in adjacent circus tents sit 795 carseverything from a much-coveted 1937 Cord to a much-maligned 1976 Ford Pinto. Since 2003, Business Jet Traveler has been providing subscribers in more than 150 countries with aviation and lifestyle news, reviews, and features. The auction needed more room. Dana Mecum Death | Obituary | Dead | Died | Funeral Plans - It is with great sadness to announce the passing of Dana Mecum. However, the millionaire is still very much alive. Lot F121. The legend suggests that in 610 A.D.give or take a decadethe Prophet Muhammad, in order to impress upon his audience that his teachings were appropriately incandescent, commanded the nearby Mount Safa to come to him. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Dave Magers discusses preserving a great brand's heritage while taking risks to grow its reach. Born in Monmouth, Illinois, in 1954, Dana Mecum was the son of famed fleet salesman Edward Mecum. "My wife and I go to (Mecum) auctions all over the country," Hovas said. The other thing is that now we have two business models. My wife asked me what I was going to do. In existence for more than 25 years, Mecum Auctions hosted their first auction in 1988 at the Rockford Airport. He said he had one for me. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Mecum rule: if you raise your own bid to meet the reserve, the car is yours! Mecum Auto Transports service isnt overnight, but the prices are reasonable. 3 How much is the buyers premium at Mecum? We began to shop our plans around to state and local health officials, governors, mayors and venue managers. 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He had a pretty good reason. Jan 11th 2021 at 5:45PM. I can leave home in the morning, call on a piece of business, and be home for dinner, a trip that used to take three days on the airlines. The TV presenter said, All credit to my wife, who agreed to move when our daughter was five weeks old and our son was 3, and that is a massive undertaking, to Ross King during an appearance on ITVs Lorraine. They have nine grandchildren. Of course, Mecum Kissimmee also has plenty of showcase vehicles, but most might still be considered less sophisticated than, for example, the 1951 Maserati A6G/2000 Spider that Bonhams sold at Scottsdale for $2,755,000 last January. Dana Mecum has always been a car guy and comes from a long car-focused lineage. They are driven by their passion. It was observed that if the lake next to the auction complex wasnt there, imagine how much more room thered be! Buy what you like, not just because you think its a bargain. They have four sons all of whom are active members of the Mecum team. Trending. The average Barrett-Jackson Auction salary ranges from approximately $47, for Consignment Specialist to $117, for Software Developer. You can have a car with a value of $20,000. My first one was a Rex Mays Gilmore Special that was on the pole at Indy in 1935 and 1936. Courtesy of Mecum Auctions, Inc. Toyota is the most reliable car brand according to Consumer Reports, knocking Lexus from its former throne. His enthusiasm for automobile collectibles and muscle cars inspired him to start Mecum Auto Auction, which is presently broadcast on Discovery HD Theater. Compatible with the iPhone 14, it's just $99.99. "There are worse places to put money than in a collector car," Kramer told me. My name is Dave Magers, and I am the CEO of Mecum Auctions. The company is headquartered in Walworth, Wisconsin, and is tops in the world for the number of collector cars offered at auctions, the number of collector cars sold at auctions, and the host of the largest collector car auction, which takes place every year in Florida. In January of each year, Mecum holds both the largest collector car auction in the world in Kissimmee, Florida, and the largest collector motorcycle auction in the world in Las Vegas, Nevada. Dana Mecum (PHOTO: Jason Brant), Ive seen it a thousand times: a guy turns down the best offer hell ever get because there arent enough people in the room.. Mecum Auctions also has the most auction sites in the United States, and does the highest volume of sales domestically of all car auction companies. Included in the offerings are classic and collector cars, antique motorcycles, antique farm tractors and auto memorabilia. Lacking a mountain to move, Robb Larson, general manager of the Osceola Heritage Park, commanded an entire lake to move, and itdid. Finally, my wife, 1970 Plymouth Cuda Convertible Pilot Car. Fortunately, the company made a big investment in its online auction platform in January, which turned out to be a saving grace. I always handle the search for capital partners just like a job interview. Mecum was in the middle of an auction at State Farm Stadium in Glendale, Arizona, in March of 2020 when the world came to an abrupt stop. His father had a Pontiac dealership in Marengo, Illinois and later resold Avis rental cars, becoming the nations largest fleet dealer before getting wiped out by high interest rates in the 1980s and later recovering. How do you get them to lift the reserve [price] when the bidding is not moving? As it did in 2019, the house is advertising that it expects 3500 vehicles for the 2020 auction. Besides, Ive got a great pilot who really watches expenses. It hadnt been seen in 40 years, Frank said. If your car does sell, great, but know that youll pay a sellers commission5 percent of hammer price without reserve, 10 percent with a $1,000 minimum on eight of the auctions 11 days. Bad Weather Won't Ruin Your Vacation Anymore , Retirees Are Earning Up to $20,000 Per Month With. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. If you buy quality and pay too much, the price will catch up and you will either make money long term or at least get your money back. You dont have to own them to enjoy them, Mecum answers. Dana Mecum has always been a car guy and comes from a long car-focused lineage. Those 30 or 35 percent that dont reach the reserve are tagged with The Bid Goes On as they roll off the block, and are dispatched to a tent where, quite often, the owner and a buyer negotiate in private and sometimes reach a deal. Dana and Patti currently live in the Geneva Lakes area of Southeastern Wisconsin. If you have a good roll of selling cars, its contagious. What is the buyers fee at Barrett Jackson? I know what I can do well, and I have to let other people do what they can do well. There are no other seller fees on BaT. So you got over your concerns about the economics of aircraft ownership? The Ultra couldnt make trips to the West Coast without stopping for fuel. They welcome adversity and challenge. In more recent years, Mecum has branched into collectible farm tractors, motorcycles, and road art. Ive seen it a thousand times: a guy turns down the best offer hell ever get because there arent enough people in the room. Starting in 2013, we began to make considerable investments in the brand and in Mecum as an entertainment company, not just an auction company. For the first 24 years of Mecum Auctions, the organization achieved considerable success and was one of the leaders in the industry. There is a minimum commission of $125 to $650 depending on your motorcycles position. For years, I thought it was his way of avoiding having to make a decision. So I learned a great lesson from that. Meanwhile, the plane is delayed an hour for some other reason, and finally they let me on. WebThe businessman Dana Mecum is a married man. What made you decide to buy the Ultra? Dana Mecum saw that. They have four They have four boys, all of whom are active Mecum team members. Coupled with over-communication and extensive training, we have been able to avoid much of the resistance to change normally experienced in an established organization. All net worths are calculated using data drawn from public sources. Menu. Many other investments in addition to these examples were made over several years. Its an unlikely place for an auction, and it started out small. The models had scores of 1 out ofumer Reports. Mecum Auctions also boasts the most auction locations in the United States and the largest number of sales of any automobile auction company in the United States. Would you sign his badge? Mecum cheerfully obliges. Proving that theres no accounting for taste, someone anted up $4400 for it. Also, say you have two $1 million cars and one has been in five We engaged every employee in the process of planning for our future and the changes we were going to need to undertake. Nobody. The 6 Most Expensive Vintage Cars In The World, Forgotten Vintage Cars Found In Barn Sell For BIG Money, Take A Look At This 1957 BMW 507 That's At $1.6 Million (And Counting) In An Online Auction. Residential Links: www.mecum.com By: Champion3 Advertisement Around the World Mailing List Advertisement Gregg Kunes' house Yerkes Observatory James Athan's Webdana mecum lake geneva house dana mecum lake geneva house Its the guy with the jet with N5OLD on it. Barrett-Jackson Auction employees rate the overall compensation and benefits package 2.2/5 stars. Oh, theres some weirdness, but its mostly entertaining weirdness. Dana Mecum's GTOs. His wifes name isPattiMecum. It took Mecum over 15 years without seeing a profit to find success with the auction company. Copyright 2023. "You can never go wrong doing the right thing." According to the man who restored the car and brought it to the 2017 Milwaukee Concours dElegance, it is Dana Mecums favorite racing car. Among many other things, we moved our TV programming to NBCSN to extend our reach to viewers outside of the traditional, hardcore car people. It also claims a number-one rank in the U.S. with number of auction venues and total dollar volume of sales. Lot S99. What is Frank Mecum net worth? For instance, there's a one-of-a-kind gold GTO that was given away during a marketing campaign in 1965. Growth requires change, and change is difficult for people. I bought it. We welcome all corrections and feedback using the button below. The company is significantly influenced by the entire family. The businessman is alive and healthy. WebMecum Auctions is an American auction company specializing in collector cars. Dana is the president and founder of Mecum Auctions, launching the company from his kitchen table with the help of his wife Patti and a few close friends back in 1988. Glendale, Arizona, 2000. What advice would you give a first-time buyer? At one point, someone offered to buy him out. With an annual inventory of roughly 15 thousand cars, the firm now holds more than one auction every month. Now, the company typically holds more than one auction every month with an inventory of about 15 thousand cars annually. According toCelebrity Net Worth, Dana Mecum has an estimated net worth of about $45 million. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. Apr 5, 2023 Like. Required fields are marked *. Continue with Recommended Cookies, Your email address will not be published. Other annual events include a massive $100 million extravaganza each January in Kissimmee, Florida, which lasts for 10 days and boasts 3,000 cars on show. The tenants started calling me in the middle of the night to fix this and that. All rights reserved. But it grew. Mecum and his wife, Patti, have four sons together and nine grandchildren. He has an estimated net worth of $100 million. Year: Net Worth: 2020: $19 Million : 2021: $19.5 Million: 2022: 20 Million: although hes married. WebThe residency of Frank is at 919 Carroll Str, Keokuk, IA 52632-4225. Mecum, So we are going to have a lot of inventory, but are we going to have enough of the kind of inventory the crowd supports as it ages? The Mecum Auction Company is the worlds largest auction house for antique, vintage, and collectible cars and motorcycles. Bidding reached a sobering $10 million, but that didnt match the reserve. Over the last 60 years our prices have gone up for four or five years, then theyve stabilized, then theyve gone down for a few years, then theyve gone back up [to a new high]. Magers, a former insurance executive, Who bought Steve McQueen Bullitt Mustang auction? Audi RS2. 1952 Allard J2 Roadster. Got a tip? The company is still owned by founder and president Dana Mecum, who ran the business with his wife and four sons for decades. Its important to have a crowd [at an auction], whether theyre bidders or just attendees. (PHOTO: Jason Brant), We get to a lot of business [with our own jet] we wouldnt otherwise get. Related: His Drive to Help His Wife Fight a Disease Led to the Launch of a Health and Wellness Business. While selling and buying at auction seem simple, there are, of course, fees and commissions involved. Mecum specializes in American classics and muscle cars and touts a wider price range than its competition, but it doesnt miss out on some big-ticket items either. And its getting bigger. Theres another desk that researches titles. So I had these 40 and 15 of my own and decided to have an auction. It was the way I was feeding my family so I would always sell them. And finally, theres the TV package, which helped launch Mecum toward worlds-largest status. They have nine grandkids between them. They have nine grandkids between them. Top 10 best cars ever Ferrari F50. What started in 1988 with little more than a few helpers The Staff of Entrepreneur Media, Inc. I didnt know anything about trucks so I traded 10 of them for four rental houses. Is Your Leadership Style More Steve Jobs or Elon Musk? Of course, with tremendous growth comes growing pains. Regardless of whether it be equity or debt, look for a partner that brings something to the table besides just dollars. WebDana Mecum's house Lake Geneva, Wisconsin (WI), US Like Tweet Share Pin Dana Mecum is the CEO of Mecum Auctions, one of the industrys most well-known collector car auction companies. Twenty years ago, all Duesenbergs were worth a million bucks. An example of data being processed may be a unique identifier stored in a cookie. Dana Mecum. Is that 427-cubic-inch V8 in this Corvette original? We have been very lucky to have several very good debt partners providing fluid corporate credit facilities that are customized to fit our ever-changing unique business and needs. The 2015 Mustang had a total of seven recalls placed on it. | From the Jan. 2020 issue Maybe the buyer, for instance, offers a vehicle as a partial trade and the seller takes it-a detail that really cant be addressed during the actual auction. Sure, you think of the extra business you can get to with a plane, but nothing beats just getting home every night. As a result, the Mecum Auction Kissimmee will continue to grow. Magerswho, incidentally, drives a Dodge Hellcat Challenger-believes that Mecums simple formula of offering cars that sell for low-four-figures to well into the millions appeals to everyone who likes interesting cars. Dana, a businessman, is married. Altogether in 2017, Mecum will handle some 20,000 consignments, including 14,000 cars, and generate revenues in excess of $400 million. We built a new stage and TV set. Dana Mecum is an American auctioneer and founder of Mecum Auctions, one of the worlds largest auction companies for collector cars. WebDana Mecum Net Worth 2023: Wiki Biography, Married, Family, Measurements, Height, Salary, Relationships Edward Norton 1,240 Less than a minute Dana Mecum net worth But Mecum isnt just any car guy. Shirley Jean Mecum, 87, of Fontana, WI, passed away on Monday, August 24, 2020, at home due to natural causes. How did you get into this business? Dana and Patti currently live in the Geneva Lakes area of Southeastern Wisconsin. Without TV, not only would we not have grown, we might not have survived. Subscribe to us to get the latest updates About Dana! The company is run by the entire family. Meet the ugliest cars in the world Fiat Multipla. Has four children, nine grandchildren. Honda. Ive been a huge Mopar fan my whole life. These things have helped him get to where he is now one of the richest people on Earth. However, the brand recognition and strength in the marketplace was not representative of the success of the business. Health Update. WebDana Mecum Founded 1988 Company size 501 to 1,000 Revenue $25M to $100M (USD) Industry Auctions & Galleries Headquarters 445 South Main Street, Wa Mecum Auctions Inc. website Nobody sells more than Mecum. It's about building something and creating a legacy. A nice 1962 Ford Fairlane once owned by NASCAR star Bill Elliott, and used in a TV commercial for NAPA with Elliott, son Chase and Dale Earnhardt Jr.? They also ramped up the streaming ability so its more up-to-the second; before January, online bidding experienced delays that were up to 30 seconds, which can be a big problem during a live auction. In 2014, we sold a 1964 Ford GT40 [prototype] for $7 million. Patti Mecum is his wifes name. So Robb Larson is moving the lake, fish and frogs and all. And if you get there early, youll also find a bunch of cars that just about anyone can afford. If theres no one in the audience, you can have a $30,000 bid and the guy wont sell. Here is the full Bio/Wiki of Mecum, his family/ mother/ father/ brother name, age, height in feet, weight, body measurements, interests/hobbies, girlfriends, wife, spouse, cars, property, bikes, address, email, house, hometown, ethnicity, hometown, birthplace, parents, achievements, phone number, school, his Twitter, Facebook, Instagram, earning /income/net worth, birthday, zodiac sign, education, caste, religion, Date Of Birth.
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